Groterm: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Groterm
Largest movements
- Cash +€132,277
up €132,277 (+31.0%), from €426,809 to €559,086
mainly Net result for the year (+€114,783) and Other debts (+€64,970)
- Stocks and contracts -€49,506
down €49,506 (-10.7%), from €460,605 to €411,099
of which Stocks: -€42,389
- Tangible fixed assets +€37,880
up €37,880 (+81.2%), from €46,670 to €84,550
of which Other tangible fixed assets: +€56,566
- Deferred charges and accrued income -€26,201
down €26,201 (-35.1%), from €74,611 to €48,410
- Receivables within one year -€16,821
down €16,821 (-4.1%), from €410,438 to €393,617
of which Trade receivables: -€16,247
- Other debts +€64,970
up €64,970 (+216566.7%), from €30 to €65,000
- Reserves +€49,783
up €49,783 (+4.2%), from €1.2m to €1.2m
- Trade debts -€25,249
down €25,249 (-19.6%), from €129,133 to €103,884
- Gross operating margin +€103,382
up €103,382 (+8.0%), from €1.3m to €1.4m
- Staff costs -€35,894
down €35,894 (-2.8%), from €1.3m to €1.3m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,510,119 | €1,584,657 | +€74,538 | +4.9% |
| Fixed assets | 21/28 | €53,694 | €87,850 | +€34,156 | +63.6% |
| Intangible fixed assets | 21 | €2,084 | €3,015 | +€931 | +44.7% |
| Tangible fixed assets | 22/27 | €46,670 | €84,550 | +€37,880 | +81.2% |
| Land and buildings | 22 | €2,871 | €1,626 | -€1,245 | -43.4% |
| Plant, machinery and equipment | 23 | €6,864 | €5,027 | -€1,837 | -26.8% |
| Furniture and vehicles | 24 | €36,935 | €21,331 | -€15,604 | -42.2% |
| Other tangible fixed assets | 26 | - | €56,566 | +€56,566 | |
| Financial fixed assets | 28 | €4,940 | €285 | -€4,655 | -94.2% |
| Current assets | 29/58 | €1,456,426 | €1,496,808 | +€40,382 | +2.8% |
| Stocks and contracts in progress | 3 | €460,605 | €411,099 | -€49,506 | -10.7% |
| Stocks | 30/36 | €333,557 | €291,167 | -€42,389 | -12.7% |
| Contracts in progress | 37 | €127,048 | €119,932 | -€7,116 | -5.6% |
| Amounts receivable within one year | 40/41 | €410,438 | €393,617 | -€16,821 | -4.1% |
| Trade receivables | 40 | €380,257 | €364,010 | -€16,247 | -4.3% |
| Other amounts receivable | 41 | €30,180 | €29,607 | -€573 | -1.9% |
| Current investments | 50/53 | €83,964 | €84,596 | +€632 | +0.8% |
| Cash at bank and in hand | 54/58 | €426,809 | €559,086 | +€132,277 | +31.0% |
| Deferred charges and accrued income | 490/1 | €74,611 | €48,410 | -€26,201 | -35.1% |
| Total equity and liabilities | 10/49 | €1,510,119 | €1,584,657 | +€74,538 | +4.9% |
| Equity | 10/15 | €1,228,950 | €1,278,733 | +€49,783 | +4.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €1,197,950 | €1,247,733 | +€49,783 | +4.2% |
| Distributable reserves | 133 | €1,197,950 | €1,247,733 | +€49,783 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €281,169 | €305,924 | +€24,755 | +8.8% |
| Amounts payable within one year | 42/48 | €281,169 | €305,924 | +€24,755 | +8.8% |
| Trade debts | 44 | €129,133 | €103,884 | -€25,249 | -19.6% |
| Suppliers | 440/4 | €129,133 | €103,884 | -€25,249 | -19.6% |
| Taxes, remuneration and social security | 45 | €152,006 | €137,040 | -€14,966 | -9.8% |
| Taxes | 450/3 | €15,932 | €10,673 | -€5,258 | -33.0% |
| Remuneration and social security | 454/9 | €136,074 | €126,366 | -€9,708 | -7.1% |
| Other amounts payable | 47/48 | €30 | €65,000 | +€64,970 | +216566.7% |
| Non-recurring operating income | 76A | €426 | €0 | -€426 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,297,498 | €1,261,604 | -€35,894 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,800 | €28,772 | -€2,028 | -6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,092 | -€7,519 | -€4,428 | -143.2% |
| Other operating charges | 640/8 | €5,334 | €6,955 | +€1,621 | +30.4% |
| Non-recurring operating charges | 66A | €1,145 | €0 | -€1,145 | -100.0% |
| Gross operating margin | 9900 | €1,293,908 | €1,397,290 | +€103,382 | +8.0% |
| Operating profit (loss) | 9901 | -€37,777 | €107,479 | +€145,256 | |
| Financial income | 75/76B | €17,765 | €20,969 | +€3,204 | +18.0% |
| Recurring financial income | 75 | €17,765 | €20,969 | +€3,204 | +18.0% |
| Financial charges | 65/66B | €15,612 | €13,225 | -€2,387 | -15.3% |
| Recurring financial charges | 65 | €15,612 | €13,225 | -€2,387 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,624 | €115,223 | +€150,847 | |
| Income taxes | 67/77 | €1,304 | €440 | -€864 | -66.3% |
| Profit (loss) for the period | 9904 | -€36,928 | €114,783 | +€151,711 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,928 | €114,783 | +€151,711 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.